Cargojet Inc., Canada’s leading provider of time-sensitive premium air cargo services, has entered into an agreement to divest its minority stake in U.S.-based cargo operator 21 Air LLC. The move allows Cargojet to sharpen its focus on domestic operations and key strategic priorities.
In August 2021, Cargojet acquired a 25% interest in 21 Air, a Greensboro, North Carolina-headquartered carrier certified by the Federal Aviation Administration as a Part-121 air carrier. At the time, 21 Air operated five Boeing 767 all-cargo aircraft, offering charter, ACMI, and CMI services to consolidators, forwarders, couriers, and integrators, including Cargojet. The investment aligned with Cargojet’s international growth strategy, as stated by President and CEO Dr. Ajay Virmani, aiming to build a diversified global footprint through partnerships.
21 Air’s fleet included one Boeing 767-200(BDSF), two 767-200(ERBDSF) aircraft operating for Cargojet, and one 767-300ER(BCF) for LATAM Cargo Chile, with DHL Express as a primary end-customer. Post-investment, 21 Air sought U.S. Department of Transportation approval to expand its fleet from five to ten aircraft.
Cargojet, which operates a fleet of 30 aircraft and handles over 25 million pounds of cargo weekly across North America, now prioritizes network optimization, ACMI services, international charters, and e-commerce-driven growth. Recent activities include a June 2024 charter agreement with Great Vision HK Express using a Boeing 767-300F for China-to-Canada routes. The divestiture supports Cargojet’s emphasis on ethical operations, fleet efficiency, and core revenue streams like its renewed UPS Canada Air Cargo agreement.